Q3 2023 Earnings Summary
Reported on Nov 2, 2023 (Before Market Open)
Pre-Earnings Price$159.62Last close (Nov 1, 2023)
Post-Earnings Price$170.00Open (Nov 2, 2023)
Price Change
$10.38(+6.50%)
- Strong Backlog and Confidence in Double-Digit EPS Growth: Quanta Services expects double-digit EPS growth in 2024 and beyond, driven by a record backlog of $30.1 billion and robust demand across its business segments. ,
- Robust Demand from Underestimated Macro Trends: The company sees significant opportunities due to underestimated macro trends like data centers, electric vehicles, and renewable energy, leading to unprecedented demand for infrastructure services. ,
- Improving Margins and Solid Execution Across Segments: Quanta Services is experiencing improving margins in its Renewable Energy Infrastructure Solutions segment, targeting the 9% to 10% range, while the Electric Power segment is performing well with operating margins between 10% and 11%. ,
Research analysts covering QUANTA SERVICES.